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Insurance Lawsuits by Company & Related Newswire
6/1/2006 1:42:00 AM | Class action filed against AIG for pushing funds that increased ...
Comments:(0) A class action lawsuit has been filed in New York against American International Group (AIG) claiming that their agents were instructed to aggressively sell certain mutual funds from certain companies for the purpose of collecting financial incentives from those companies and that this was not disclosed to clients. Clients were thus not advised of the right investment for their needs, and suffered potential financial losses as a result.
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3/29/2006 5:58:00 PM | Former Prudential manager charged with aiding in trading scheme
Comments:(0) As the investigation into the securities fraud at Prudential continues, a former Boston branch manager, Robert E. Shannon, was recently charged by federal prosecutors. The allegation is that one of the brokers whom Shannon supervised began the fraudulent trading practices in 1999; subsequently, other managers allegedly participated for the benefit of some hedge fund clients. Practices in question included market timing trades of mutual funds, and trades for the purpose of generating commissions.
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